Franklin Resources Inc. Sells 18,697 Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN)

Franklin Resources Inc. reduced its stake in Dyne Therapeutics, Inc. (NASDAQ:DYN) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,323,803 shares of the company’s stock after selling 18,697 shares during the period. Franklin Resources Inc. owned 1.30% of Dyne Therapeutics worth $31,189,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank bought a new position in shares of Dyne Therapeutics in the 4th quarter worth approximately $22,384,000. State Street Corp grew its stake in Dyne Therapeutics by 13.8% in the third quarter. State Street Corp now owns 3,641,859 shares of the company’s stock worth $130,816,000 after purchasing an additional 440,890 shares during the period. Barclays PLC raised its holdings in Dyne Therapeutics by 162.2% in the third quarter. Barclays PLC now owns 207,309 shares of the company’s stock worth $7,446,000 after purchasing an additional 128,246 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Dyne Therapeutics during the fourth quarter valued at $2,340,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Dyne Therapeutics by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,859,413 shares of the company’s stock valued at $66,802,000 after buying an additional 84,760 shares in the last quarter. 96.68% of the stock is currently owned by hedge funds and other institutional investors.

Dyne Therapeutics Stock Down 12.1 %

Shares of DYN stock opened at $8.28 on Friday. The firm has a market capitalization of $936.64 million, a PE ratio of -2.33 and a beta of 1.21. The company has a 50 day moving average price of $12.81 and a 200-day moving average price of $22.61. Dyne Therapeutics, Inc. has a 52 week low of $8.15 and a 52 week high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last announced its earnings results on Tuesday, March 4th. The company reported ($0.88) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.04. Analysts anticipate that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current year.

Analyst Ratings Changes

DYN has been the subject of several research reports. JPMorgan Chase & Co. decreased their price target on shares of Dyne Therapeutics from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, March 21st. Guggenheim reiterated a “buy” rating on shares of Dyne Therapeutics in a report on Friday, January 24th. Piper Sandler dropped their price target on Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Dyne Therapeutics in a research report on Tuesday, January 14th. Finally, Baird R W raised Dyne Therapeutics to a “strong-buy” rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.46.

Insider Buying and Selling at Dyne Therapeutics

In other Dyne Therapeutics news, insider Oxana Beskrovnaya sold 2,598 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total transaction of $36,242.10. Following the completion of the sale, the insider now directly owns 199,087 shares of the company’s stock, valued at approximately $2,777,263.65. This represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 6,237 shares of company stock valued at $77,760. 20.77% of the stock is owned by company insiders.

Dyne Therapeutics Profile

Dyne Therapeutics, Inc, a clinical-stage muscle disease company, operates as a biotechnology company that focuses on advancing therapeutics for genetically driven muscle diseases in the United States. It is developing a portfolio of muscle disease therapeutics, including programs in myotonic dystrophy type 1; duchenne muscular dystrophy; and facioscapulohumeral dystrophy, as well as rare skeletal muscle, and cardiac and metabolic muscle diseases using its FORCE platform that delivers disease-modifying therapeutics.